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Property profile & analytics
OFF-MARKET
Estimated value
$6,055,000
Retail space
617 State Rte 9th NE, Lake Stevens, WA 98258
Individually Owned
3-yr Hold
Free & Clear
Property ID
US90-1338136
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
48,707 SF
Lot
3.21 ac (139,828 SF)
Zoning code
SK
APN
493400300205
UPID
US90-1338136
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.06M
Owner & transaction history
State Of Washington · 3 yrs held
State Of Washington
since 2022
5 recorded transactions
Zoning & alternative use
SK · Lake Stevens, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Stevens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Stevens submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$124 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$86,968
Tax year 2023
Assessed value
$9,330,000
Assessed 2023
Previous assessed
$11,699,000
-20.2% YoY
Effective rate
0.93%
On assessed value
Assessed land
$3,637,000
Assessed improvement
$5,693,000
Land market value
$3,637,000
Improvement market value
$5,693,000
Total market value
$9,330,000
Applied tax rate
408.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Buildings
3
Stories
2
Total area
48,707 SF
Lot
3.21 ac (139,828 SF)
Zoning code
SK
APN
493400300205
UPID
US90-1338136
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SK · Lake Stevens, WA
Zoning SK · permitted uses
SK · Lake Stevens, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Stevens. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Lot
3.21 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Free & Clear · 3 yrs held
Mailing address
3333 NEW HYDE PARK RD, NEW HYDE PARK, NY 11042-1204
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2022
—
State Of Washington
Pk II Frontier Village Sc LLC
Warranty Deed
—
Jan 18, 2007
$45,126,717
Pk II Frontier Village Sc LLC
Ct Operating Ptshp
Grant Deed
$30,900,000 · * Other Institutional Lenders
Oct 31, 1997
$14,400,000
Alexander Haagen
Aig Frontier Village
Grant Deed
—
May 1, 1990
$12,877,000
—
—
Grant Deed
related
—
—
—
Alexander Haagen Properties
—
Deed Of Trust
related
$250,000 · Chase Manhattan Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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